Dominion Citrus Income Fund

Dominion Citrus Income Fund
Dominion Citrus Limited

Dominion Citrus Limited

December 16, 2009 09:14 ET

Dominion Citrus Income Fund (TSX:DOM.UN) and Dominion Citrus Limited (TSX:DMN.PR.A): Restructuring of Participating Notes

TORONTO, ONTARIO--(Marketwire - Dec. 16, 2009) - Dominion Citrus Income Fund ("Dominion", the "Fund") (TSX:DOM.UN) and Dominion Citrus Limited ("DCL") (TSX:DMN.PR.A) jointly announce that the $19,257,532 principal amount of Participating Notes due on January 1, 2016 owed from DCL to the Fund have been restructured to better reflect the operating profile of DCL going forward. Pursuant to the restructuring, the Participating Note Indenture has been amended and restated and is available under the Fund's and DCL's profile on SEDAR.

This restructuring is intended to stabilize Dominion's capital structure through to 2011, when federal legislation comes into effect regarding the taxation of income trusts. As 2011 approaches, DCL and the Fund will make further evaluations of the trust structure and potential structural and strategic alternatives.

Caution regarding Forward-Looking Statements

This release contains statements, which, to the extent that they are not a recitation of historical fact, may constitute "forward-looking statements". Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, objectives or performance, or our underlying assumptions. The words "estimate", "anticipate", "believe", "expect", "intend" or other similar expressions of future or conditional verbs such as "will", "should", "would" and "could" are intended to identify forward-looking statements. Persons reading this press release are cautioned that such statements are only expectations, and that our actual results or performance may be materially different.

Forward-looking information involves certain risks, assumptions, uncertainties and other factors which may cause actual future results to differ materially from those expressed or implied in any forward-looking statements.

Readers should not place undue reliance on these forward-looking statements when making decisions, and should consider the date onto which the statements were made. Except as required by applicable security law, management disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Dominion

Dominion is a diversified food company supplying fresh produce to a wide variety of customers in retail, foodservice and food distribution businesses. DCL provides procurement, processing, repacking, sorting, grading, warehousing and distribution services to its major domestic markets being Ontario and Quebec. DCL also supplies products to customers in the United States. DCL is a subsidiary of the Fund. The Fund is a publicly traded, unincorporated, open-ended limited purpose income trust. The trust units are listed on the Toronto Stock Exchange under the symbol DOM.UN. The Series A preference shares of DCL are listed on the Toronto Stock Exchange under the symbol DMN.PR.A.

Dominion's website may be accessed at

Contact Information

  • Investors:
    Dominion Citrus Limited
    Jason Fielden, VP Finance, CFO & Corporate Secretary
    (416) 242-8341 Ext 250
    Dominion Citrus Limited
    Winston Ash, President & CEO
    (416) 242-8341 Ext 249